If not, it is not up to scratch.

Most people accruing occupational pensions these days are accruing benefits under a defined contribution (DC) arrangement. The benefit value is the accumulated value of the contributions over time, with investment returns less fees and taxes.

If you are in such a DC scheme, you should ask yourself if the scheme is a DB scheme. It may sound as if I have been imbibing a little too freely at the drinks cabinet to make such a statement. DB schemes are most assuredly not DC schemes, so what is this nonsense about a DC scheme being DB?

The issue is fundamental to investment and saving. Continue reading →